KUALA LUMPUR (April 26): The two-day settlement cycle (T+2) for the trading of securities starts next Monday (April 29), which will bring Bursa Malaysia in line with other regional markets such as Thailand, Indonesia and Singapore.
“Trades executed on April 26 under T+3 and trades executed on April 29 under T+2 will be settled on May 2 (given that May 1 is a national public holiday),” Bursa said in a statement today.
Its chief executive officer Datuk Muhamad Umar Swift said the shift to a shorter settlement period will bring Bursa Malaysia in line with regional and major exchanges around the world.
Association of Stockbroking Companies Malaysia chairman Datuk Ahmad Azman Abdul Manaf said it supports Bursa’s efforts to shorten the settlement cycle which will reduce counterparty risk, improve operational efficiency, strengthen market’s competitiveness and increase global harmonisation.
Bursa shares closed up one sen or 0.14% to RM6.93 today, giving it a market capitalistion of RM5.6 billion. It saw 285,100 shares changing hands.
http://www.theedgemarkets.com/article/t2-settlement-cycle-bursa-starts-monday
